Mane Global Capital Management LP Acquires New Position in NIKE, Inc. $NKE

Mane Global Capital Management LP bought a new position in NIKE, Inc. (NYSE:NKE) in the second quarter, Holdings Channel reports. The institutional investor bought 309,430 shares of the footwear maker’s stock, valued at approximately $21,982,000.

Several other hedge funds and other institutional investors have also bought and sold shares of NKE. Mitchell Mcleod Pugh & Williams Inc. raised its stake in shares of NIKE by 1.0% during the second quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 14,176 shares of the footwear maker’s stock worth $1,007,000 after acquiring an additional 134 shares in the last quarter. Caldwell Sutter Capital Inc. grew its holdings in shares of NIKE by 6.3% during the 2nd quarter. Caldwell Sutter Capital Inc. now owns 2,390 shares of the footwear maker’s stock valued at $170,000 after purchasing an additional 142 shares during the last quarter. Salomon & Ludwin LLC raised its position in NIKE by 10.1% in the 2nd quarter. Salomon & Ludwin LLC now owns 1,575 shares of the footwear maker’s stock worth $120,000 after purchasing an additional 145 shares during the period. Westmount Partners LLC lifted its stake in NIKE by 2.9% in the second quarter. Westmount Partners LLC now owns 5,165 shares of the footwear maker’s stock worth $367,000 after purchasing an additional 146 shares during the last quarter. Finally, HB Wealth Management LLC lifted its stake in NIKE by 0.3% in the second quarter. HB Wealth Management LLC now owns 52,012 shares of the footwear maker’s stock worth $3,695,000 after purchasing an additional 147 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on NKE shares. Truist Financial reaffirmed a “buy” rating and set a $85.00 price objective on shares of NIKE in a research note on Wednesday, October 1st. Telsey Advisory Group reiterated a “market perform” rating and set a $75.00 target price on shares of NIKE in a report on Wednesday. DZ Bank upgraded shares of NIKE from a “hold” rating to a “buy” rating in a report on Wednesday, October 1st. JPMorgan Chase & Co. reduced their price objective on shares of NIKE from $100.00 to $86.00 and set a “buy” rating on the stock in a research report on Monday, November 17th. Finally, Wall Street Zen raised shares of NIKE from a “sell” rating to a “hold” rating in a research report on Saturday, September 6th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $81.10.

Insider Activity at NIKE

In related news, Director Jorgen Vig Knudstorp purchased 16,150 shares of the stock in a transaction dated Friday, November 7th. The stock was purchased at an average price of $62.09 per share, with a total value of $1,002,753.50. Following the transaction, the director directly owned 21,388 shares in the company, valued at $1,327,980.92. This trade represents a 308.32% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Mark G. Parker sold 86,078 shares of the company’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $64.80, for a total transaction of $5,577,854.40. Following the completion of the transaction, the chairman owned 647,615 shares in the company, valued at approximately $41,965,452. The trade was a 11.73% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.80% of the stock is owned by corporate insiders.

NIKE Stock Performance

Shares of NKE stock opened at $65.79 on Thursday. The company has a current ratio of 2.19, a quick ratio of 1.45 and a debt-to-equity ratio of 0.59. The company’s fifty day moving average price is $65.63 and its 200-day moving average price is $69.23. The stock has a market cap of $97.26 billion, a PE ratio of 33.74, a price-to-earnings-growth ratio of 2.23 and a beta of 1.29. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $82.44.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.22. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The business had revenue of $11.72 billion for the quarter, compared to analysts’ expectations of $10.96 billion. During the same quarter in the prior year, the company earned $0.70 earnings per share. The business’s revenue was up 1.0% compared to the same quarter last year. On average, equities analysts expect that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 1st will be paid a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Monday, December 1st. This is an increase from NIKE’s previous quarterly dividend of $0.40. NIKE’s dividend payout ratio (DPR) is currently 84.10%.

NIKE Company Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.